1.
Civil actions. A person injured by any of the following actions taken by that person's own insurer may bring a civil action and recover damages, together with costs and disbursements, reasonable attorney's fees and interest on damages at the rate of 1 1/2% per month:
A. Knowingly misrepresenting to an insured pertinent facts or policy provisions relating to coverage at issue; [ 1997, c. 621, §1 (RPR).]
B. Failing to acknowledge and review claims, which may include payment or denial of a claim, within a reasonable time following receipt of written notice by the insurer of a claim by an insured arising under a policy; [ 1997, c. 621, §1 (RPR).]
C. Threatening to appeal from an arbitration award in favor of an insured for the sole purpose of compelling the insured to accept a settlement less than the arbitration award; [ 1997, c. 621, §1 (RPR).]
D. Failing to affirm or deny coverage, reserving any appropriate defenses, within a reasonable time after having completed its investigation related to a claim; or [ 1997, c. 621, §1 (RPR).]
E. Without just cause, failing to effectuate prompt, fair and equitable settlement of claims submitted in which liability has become reasonably clear. [ 1997, c. 621, §1 (NEW).]
[ 1997, c. 621, §1 (RPR).]
2.
Without just cause. For the purposes of this section, an insurer acts without just cause if it refuses to settle claims without a reasonable basis to contest liability, the amount of any damages or the extent of any injuries claimed.
[ 1997, c. 621, §1 (RPR).]
3.
No limitation on other cause of action. Nothing in this section prohibits any other claim or cause of action a person has against an insurer.
[ 1997, c. 621, §1 (NEW).]
4.
Application. This section does not apply to workers' compensation claims.
[ 1997, c. 621, §1 (NEW).]
1987, c. 291, § 2 (NEW) . 1997, c. 621, § 1 (RPR) .